SPWO vs. IDHQ
SPWO (SP Funds S&P World (ex-US) ETF) and IDHQ (Invesco S&P International Developed High Quality ETF) are both exchange-traded funds - SPWO is a Foreign Large Cap Equities fund tracking the S&P DM Ex-U.S. & EM 50/50 Shariah Index, while IDHQ is a Quality Factor fund tracking the IDHQ-US - S&P Quality Developed Ex-U.S. LargeMidCap Index. Both are passively managed. Over the past year, SPWO returned 35.21% vs 41.32% for IDHQ. Their 0.80 correlation means they have sometimes moved together and sometimes differently. SPWO charges 0.55%/yr vs 0.29%/yr for IDHQ.
Performance
SPWO vs. IDHQ - Performance Comparison
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Returns By Period
In the year-to-date period, SPWO achieves a 18.04% return, which is significantly lower than IDHQ's 26.27% return.
SPWO
- 1D
- 0.31%
- 1M
- -3.27%
- 6M
- 9.85%
- YTD
- 18.04%
- 1Y
- 35.21%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 21.17%
IDHQ
- 1D
- -1.04%
- 1M
- -0.18%
- 6M
- 17.73%
- YTD
- 26.27%
- 1Y
- 41.32%
- 3Y*
- 19.52%
- 5Y*
- 9.70%
- 10Y*
- 10.64%
- ALL TIME*
- 5.32%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $5.89M | $6.19M | $5.51M | |
| $1.91M | $1.88M | $2.00M |
SPWO vs. IDHQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SPWO SP Funds S&P World (ex-US) ETF | 18.04% | 26.32% | 9.25% | 1.36% |
IDHQ Invesco S&P International Developed High Quality ETF | 26.27% | 27.46% | 1.33% | 1.13% |
Correlation
The correlation between SPWO and IDHQ is 0.84, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.84 |
Correlation (All Time) Calculated using the full available price history since Dec 20, 2023 | 0.80 |
The correlation between SPWO and IDHQ has been stable across timeframes, ranging from 0.80 to 0.84 - a consistent structural relationship.
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Return for Risk
SPWO vs. IDHQ — Risk / Return Rank
SPWO
IDHQ
SPWO vs. IDHQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SP Funds S&P World (ex-US) ETF (SPWO) and Invesco S&P International Developed High Quality ETF (IDHQ). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| SPWO | IDHQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.51 | ||
| Sortino ratioReturn per unit of downside risk | -0.77 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.36 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 2.49 | 3.03 | -0.54 |
| Martin ratioReturn relative to average drawdown | 7.92 | 12.14 | -4.22 |
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Drawdowns
SPWO vs. IDHQ - Drawdown Comparison
The maximum SPWO drawdown since its inception was -18.03%, smaller than the maximum IDHQ drawdown of -73.84%. Use the drawdown chart below to compare losses from any high point for SPWO and IDHQ.
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Drawdown Indicators
| SPWO | IDHQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.03% | -73.84% | +55.81% |
Max Drawdown (1Y)Largest decline over 1 year | -13.75% | -13.44% | -0.31% |
Max Drawdown (3Y)Largest decline over 3 years | — | -14.07% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -33.54% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.54% | — |
Current DrawdownCurrent decline from peak | -8.52% | -1.04% | -7.48% |
Average DrawdownAverage peak-to-trough decline | -2.97% | -21.03% | +18.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.31% | 3.35% | +0.96% |
Volatility
SPWO vs. IDHQ - Volatility Comparison
SP Funds S&P World (ex-US) ETF (SPWO) has a higher volatility of 8.20% compared to Invesco S&P International Developed High Quality ETF (IDHQ) at 4.17%. This indicates that SPWO's price experiences larger fluctuations and is considered to be riskier than IDHQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPWO | IDHQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.20% | 4.17% | +4.03% |
Volatility (6M)Calculated over the trailing 6-month period | 20.77% | 18.92% | +1.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.43% | 20.74% | +2.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.33% | 17.85% | +2.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.33% | 17.97% | +2.36% |
SPWO vs. IDHQ - Expense Ratio Comparison
SPWO has a 0.55% expense ratio, which is higher than IDHQ's 0.29% expense ratio.
Dividends
SPWO vs. IDHQ - Dividend Comparison
SPWO's dividend yield for the trailing twelve months is around 1.10%, less than IDHQ's 2.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IDHQ Invesco S&P International Developed High Quality ETF | 2.01% | 2.46% | 2.41% | 2.52% | 3.33% | 2.10% | 1.60% | 2.10% | 2.67% | 1.68% | 2.36% | 1.71% |
SPWO SP Funds S&P World (ex-US) ETF | 1.10% | 1.29% | 1.24% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SPWO and IDHQ have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPWO has higher volatility (8.20%) compared to IDHQ (4.17%). In terms of maximum drawdown, SPWO dropped -18.03% vs IDHQ's -73.84%.
On 1-year performance, IDHQ leads with 41.32% vs 35.21% for SPWO. On fees, IDHQ is cheaper at 0.29% per year. On volatility, IDHQ has been the lower-risk option at 4.17%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IDHQ has performed better with a 41.32% return vs 35.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IDHQ is cheaper with a 0.29% expense ratio, compared with 0.55% for SPWO.
IDHQ has the higher dividend yield at 2.01%, compared with 1.10% for SPWO.
SPWO is categorized as Foreign Large Cap Equities, while IDHQ is Quality Factor. SPWO tracks S&P DM Ex-U.S. & EM 50/50 Shariah Index, while IDHQ tracks IDHQ-US - S&P Quality Developed Ex-U.S. LargeMidCap Index. They also come from different issuers: SP Funds and Invesco. Their fees differ too: 0.55% for SPWO and 0.29% for IDHQ.
IDHQ currently has the higher Sharpe Ratio (1.97 vs 1.46), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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